Senior Director Treasury Services (Hybrid)

Department: Treasury Services
Salary/Grade: EXS/15

Job Summary:

Treasury Services strives to optimize the University's working capital and debt portfolio in an efficient and compliant manner and to serve as a University resource for all cash and banking needs. Treasury Services also advocates for ecommerce solutions and manages the University's payment card acceptance program. Northwestern operates with annual expenses exceeding $3.0 billion. In fiscal year 2024, cash and cash equivalents totaled $386 million, acquisitions of land, buildings, and equipment totaled $343 million, and total long-term taxable and tax-exempt debt outstanding was $2.4 billion. Treasury Operations also manages liquidity resources exceeding $1 billion, including a taxable and tax-exempt commercial paper program and various bank lines of credit.

Treasury Services scope of work directly supports the education and research mission of the University, while also ensuring compliance with local, state, and federal regulations (including tax-exempt debt compliance and reporting), as well as other taxable bond compliance and contractual obligations. A mindset of stewardship, professional excellence, and a customer-service orientation are valued. This role reports to the Assistant Vice President for Finance, within the organization of the Vice President and Chief Financial Officer. This role manages the Depository Services function and supervises a team of two professionals.

The role represents the AVP for Finance as necessary and contributes to cross-functional initiatives to enhance the delivery of financial services across the University. The individual will represent the university on issues in professional organizations and the higher education community. While reporting directly to the AVP, the position will work with the University's Vice President and Chief Financial Officer and others in the ongoing development of a best-in-class central administration to support Northwestern's pursuit of excellence.

Specific Responsibilities:

• Direct all University daily cash management and working capital activities, including cash positioning and forecasting (and related variance analysis).
• Responsible for the investment of working capital, providing solutions maximizing return on working capital investments, while protecting principal.
• Risk management: identify and mitigate financial risks including interest rate, foreign exchange, and counterparty risks (as applicable), partnering with internal and external parties
• Maintain daily liquidity reporting, available to the AVP Finance, and upon request to the VP and Chief Financial Officer
• Manage the University banking relationships with its operating banks; maintain ongoing awareness of banking services and negotiate pricing and fee structures with banking partners
• Debt and capital markets:
  • Support long-term borrowing planning and capital structure strategy; update cash flow forecasts accordingly
  • Partner with the University's external financial advisor to optimize access to capital, oversee the debt portfolio, and manage the University's internal loan program, with direction from the AVP Finance and VP and CFO.
  • Manage debt compliance, working with the Tax and Regulatory Services department, the University's financial advisor, and other internal and external partners
• Prepare rating agency reporting, the annual Continuing Disclosure, and other required reporting
• Advocate for eCommerce solutions that eliminate cash, checks and paper transactions in favor of electronic payments. Manage the University's merchant card (credit card acceptance) program, including data security awareness and PCI DSS (Payment Card Industry Data Security Standard) compliance
• Manage the Depository Services function, serving as a campus resource, including banking and depository advisory services; manages a team of two professionals. Coordinate with University schools and departments
• Collaboratively sets the annual budget for investment for the short-term asset portfolio; updates projections quarterly, and maintains variance explanations; responsible for journal entries and general ledger reporting, with respect to working capital and short-term and long-term debt
• Lead efforts to explore, recommend and implement appropriate current industry-standard technology solutions to support continuous process improvement in Treasury Operations. Ensure that accounting and internal controls best practices are incorporated in business processes.

Miscellaneous

Performs other duties as assigned.

Minimum Qualifications:

• Bachelor's degree in business, finance, accounting, economics, or related field
• At least 10 years of progressive experience in a complex Treasury Department with responsibility for cash management
• Experience leading a team of professional staff
• Experience with debt offerings (corporate, municipal, tax-exempt)
• Experience with short-term borrowing solutions, including commercial paper and lines of credit
• Experience managing working capital, including optimizing return and preserving principal
• Strong communication, negotiation and coordination skills
• Solid project management, organizational and time management skills
• Strong business analysis and problem-solving skills; employs initiative, judgment, creativity and resourcefulness in the resolution of complex problems
• Ability to develop and sustain collaborative working relationships
• Experience with Microsoft Office and ability to quickly understand and learn to use new software applications; strong knowledge of Excel

Preferred Qualifications:

• MBA preferred
• Certified Treasury Professional (CTP) certification preferred
• Familiarity with bank trading systems
• Experience with the related compliance efforts of debt offerings
• Experience working with rating agencies and the related reporting requirements
• Experience working with PeopleSoft financial system

Target hiring range for this position will be between $170,000--$200,000 per year. Offered salary will be determined by the applicant's education, experience, knowledge, skills and abilities, as well as internal equity and alignment with market data.

Benefits:
At Northwestern, we are proud to provide meaningful, competitive, high-quality health care plans, retirement benefits, tuition discounts and more! Visit us at https://www.northwestern.edu/hr/benefits/index.html to learn more.

Work-Life and Wellness:
Northwestern offers comprehensive programs and services to help you and your family navigate life's challenges and opportunities, and adopt and maintain healthy lifestyles.
We support flexible work arrangements where possible and programs to help you locate and pay for quality, affordable childcare and senior/adult care. Visit us at https://www.northwestern.edu/hr/benefits/work-life/index.html to learn more.

Professional Growth & Development:
Northwestern supports employee career development in all circumstances whether your workspace is on campus or at home. If you're interested in developing your professional potential or continuing your formal education, we offer a variety of tools and resources. Visit us at https://www.northwestern.edu/hr/learning/index.html to learn more.

Northwestern University is an Equal Opportunity Employer and does not discriminate on the basis of protected characteristics, including disability and veteran status. View Northwestern's non-discrimination statement. Job applicants who wish to request an accommodation in the application or hiring process should contact the Office of Civil Rights and Title IX Compliance. View additional information on the accommodations process.